11:21 27.10.2020

Metinvest sees income fall by 8%, EBITDA rise by 5.9%, debt fall by $64 mln in Aug

2 min read
Metinvest sees income fall by 8%, EBITDA rise by 5.9%, debt fall by $64 mln in Aug

The income of Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metallurgical group, in August 2020 decreased by 7.9%, or $72 million, to $838 million from $910 million, compared to the previous month.

According to the published preliminary unaudited consolidated monthly results of the company's financial statements, the overall rate of EBITDA amounted to $216 million in August, which is $12 million more than in July ($204 million), while EBITDA from participation in the joint venture was $48 million (in July $30 million).

According to the report, the adjusted EBITDA of the metallurgical division of the group for August 2020 amounted to 'plus' $91 million (in July 'plus' $57 million), including $7 million from participation in the joint venture ('minus' 5 million); EBITDA of the mining division totals $134 million (in July $154 million), including income from the joint venture $41 million ($35 million). The management company's expenses amounted to $6 million ($6 million).

Total income in August consisted of $671 million ($700 million in July) from the metallurgical division, $258 million ($283 million) from the mining division, and intercompany sales of $91 million ($73 million).

The company's total debt in August decreased by $64 million, to $3.017 billion from $3.081 billion, compared to July, while the total amount of money decreased by $88 million, to $523 million from $611 million.

Funds used in investment activities amounted to $54 million, in financial activities to $71 million.

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